Vault-13

ISHARES TR MTUM

MSCI USA MMENTM · ETP · CUSIP 46432F396

988 institutional holders +26 vs Q2 2025
66,514,80566.5m shares reported held*
$17.0bnreported value*
97 new 408 added 318 reduced 61 sold out net sold ≈ $850.1m (-3.2m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($18.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $255.72. Options: 9 managers hold calls ($116.9m notional), 14 hold puts ($456.4m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 613Q4 22: 766Q1 23: 705Q2 23: 649Q3 23: 621Q4 23: 641Q1 24: 682Q2 24: 696Q3 24: 703Q4 24: 873Q1 25: 887Q2 25: 962Q3 25: 988988Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022613
Q4 2022766
Q1 2023705
Q2 2023649
Q3 2023621
Q4 2023641
Q1 2024682
Q2 2024696
Q3 2024703
Q4 2024873
Q1 2025887
Q2 2025962
Q3 2025988

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1k01kQ4 23: 189 bought or addedQ4 23: 370 cut or sold outQ1 24: 300 bought or addedQ1 24: 317 cut or sold outQ1 24Q2 24: 268 bought or addedQ2 24: 365 cut or sold outQ3 24: 255 bought or addedQ3 24: 353 cut or sold outQ3 24Q4 24: 468 bought or addedQ4 24: 230 cut or sold outQ1 25: 434 bought or addedQ1 25: 351 cut or sold outQ1 25Q2 25: 472 bought or addedQ2 25: 382 cut or sold outQ3 25: 505 bought or addedQ3 25: 379 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023189370
Q1 2024300317
Q2 2024268365
Q3 2024255353
Q4 2024468230
Q1 2025434351
Q2 2025472382
Q3 2025505379

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$200m$400m$600m$800mQ4 24 calls: $41.9mQ4 24 puts: $780.1mQ4 24P/C 18.61Q1 25 calls: $203.9mQ1 25 puts: $106.5mQ1 25P/C 0.52Q2 25 calls: $54.8mQ2 25 puts: $269.6mQ2 25P/C 4.92Q3 25 calls: $116.9mQ3 25 puts: $456.4mQ3 25P/C 3.90
Numbers
QuarterCallsPutsP/C
Q4 2024$41.9m$780.1m18.61
Q1 2025$203.9m$106.5m0.52
Q2 2025$54.8m$269.6m4.92
Q3 2025$116.9m$456.4m3.90

Biggest buyers

JPMORGAN CHASE & CO Added +924,932+924.9k
Focus Partners Wealth Added +896,644+896.6k
FMR LLC Added +829,803+829.8k
MORGAN STANLEY Added +739,203+739.2k
LPL Financial LLC Added +337,340+337.3k
GOLDMAN SACHS GROUP INC Added +336,433+336.4k
MML INVESTORS SERVICES, LLC Added +201,691+201.7k
Sanctuary Advisors, LLC Added +161,226+161.2k
RAYMOND JAMES FINANCIAL INC Added +120,851+120.9k
Strategic Investment Advisors / MI Added +103,202+103.2k

Biggest sellers

ENVESTNET ASSET MANAGEMENT INC Reduced -6,445,729-6.4m
ROYAL BANK OF CANADA Reduced -661,407-661.4k
ASSETMARK, INC Reduced -390,553-390.6k
Clark Capital Management Group, Inc. Reduced -286,557-286.6k
TWO SIGMA INVESTMENTS, LP Sold out -227,959-228.0k
CITIGROUP INC Reduced -157,005-157.0k
Orion Porfolio Solutions, LLC Reduced -115,791-115.8k
Ameritas Advisory Services, LLC Reduced -115,445-115.4k
Corient Private Wealth LP Reduced -99,189-99.2k
OSAIC HOLDINGS, INC. Reduced -78,059-78.1k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $44.5m173.6k shares
CITADEL ADVISORS LLC Added $27.9m108.8k shares
JANE STREET GROUP, LLC Added $25.1m97.7k shares
MILLENNIUM MANAGEMENT LLC New $6.8m26.6k shares
Cubist Systematic Strategies, LLC Reduced $6.3m24.4k shares
Walleye Trading LLC New $2.6m10.0k shares
Squarepoint Ops LLC Reduced $2.4m9.2k shares
WOLVERINE TRADING, LLC Reduced $1.1m4.4k shares
Belvedere Trading LLC Added $307.7k1.2k shares

Biggest puts

PICTON MAHONEY ASSET MANAGEMENT New $164.1m640.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $88.8m346.4k shares
SONA ASSET MANAGEMENT (US) LLC New $76.9m300.0k shares
OnyxPoint Global Management LP New $49.0m191.0k shares
CITADEL ADVISORS LLC Added $47.8m186.4k shares
JANE STREET GROUP, LLC Reduced $7.3m28.5k shares
Cubist Systematic Strategies, LLC Reduced $7.2m28.0k shares
WOLVERINE TRADING, LLC Added $4.2m16.5k shares
IMC-Chicago, LLC New $3.1m12.2k shares
Squarepoint Ops LLC Reduced $2.4m9.5k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
FMR LLC 13G · institution +1.1 pts · filed 2026-05-06 6.5% +1.1 pts 5.5m≈ $1.9bn 2026-05-06

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MERCER GLOBAL ADVISORS INC /ADV 3.25% of their portfolio DENVER, CO 7,595,0407.6m $1.9bn $1.9bn 3.25% Added +11.6k +11,584
2 ENVESTNET ASSET MANAGEMENT INC 0.46% of their portfolio Berwyn, PA 6,193,9736.2m $1.6bn $1.6bn 0.46% Reduced -6.4m -6,445,729
3 FMR LLC 0.05% of their portfolio BOSTON, MA 4,063,1064.1m $1.0bn $1.0bn 0.05% Added +829.8k +829,803
4 MORGAN STANLEY 0.05% of their portfolio NEW YORK, NY 3,260,2763.3m $836.1m $836.1m 0.05% Added +739.2k +739,203
5 RAYMOND JAMES FINANCIAL INC 0.25% of their portfolio ST. PETERSBURG, FL 3,063,2513.1m $785.6m $785.6m 0.25% Added +120.9k +120,851
6 LPL Financial LLC 0.20% of their portfolio FORT MILL, SC 2,639,4432.6m $676.9m $676.9m 0.20% Added +337.3k +337,340
7 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 1,741,7841.7m $446.7m $446.7m 0.01% Added +924.9k +924,932
8 ASSETMARK, INC 0.81% of their portfolio CONCORD, CA 1,465,1311.5m $375.7m $375.7m 0.81% Reduced -390.6k -390,553
9 AMERIPRISE FINANCIAL INC 0.08% of their portfolio MINNEAPOLIS, MN 1,321,8831.3m $339.0m $339.0m 0.08% Added +90.8k +90,841
10 BlackRock, Inc. 0.01% of their portfolio New York, NY 1,259,2941.3m $322.9m $322.9m 0.01% Added +24.9k +24,930
11 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 1,239,0001.2m $317.7m $317.7m 0.02% Added +94.9k +94,881
12 STATE OF MICHIGAN RETIREMENT SYSTEM 1.51% of their portfolio EAST LANSING, MI 1,223,4901.2m $313.8m $313.8m 1.51% Added +17.4k +17,400
13 Cerity Partners LLC 0.48% of their portfolio NEW YORK, NY 1,151,9521.2m $295.4m $295.4m 0.48% Added +29.2k +29,230
14 Blue Trust, Inc. 3.26% of their portfolio BRENTWOOD, TN 1,133,5651.1m $290.7m $290.7m 3.26% Reduced -76.9k -76,913
15 Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 5.32% of their portfolio Seattle, WA 1,030,7201.0m $264.3m $264.3m 5.32% Reduced -555 -555
16 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.39% of their portfolio PLYMOUTH, MN 1,001,2601.0m $254.8m $254.8m 0.39% Reduced -17.6k -17,593
17 Focus Partners Wealth 0.38% of their portfolio ST LOUIS, MO 927,145927.1k $237.8m $237.8m 0.38% Added +896.6k +896,644
18 CWM, LLC 0.70% of their portfolio OMAHA, NE 911,115911.1k $233.7m $233.7m 0.70% Added +11.5k +11,546
19 WELLS FARGO & COMPANY/MN 0.05% of their portfolio SAN FRANCISCO, CA 865,845865.8k $222.0m $222.0m 0.05% Reduced -3.0k -3,039
20 UBS Group AG 0.04% of their portfolio ZURICH, V8 758,362758.4k $194.5m $194.5m 0.04% Reduced -30.5k -30,508
21 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 739,133739.1k $189.6m $189.6m 0.03% Added +336.4k +336,433
22 Corient Private Wealth LP 0.29% of their portfolio MIAMI, FL 716,736716.7k $183.8m $183.8m 0.29% Reduced -99.2k -99,189
23 Orgel Wealth Management, LLC 3.88% of their portfolio ALTOONA, WI 664,061664.1k $170.3m $170.3m 3.88% Added +4.3k +4,280
24 MML INVESTORS SERVICES, LLC 0.43% of their portfolio SPRINGFIELD, MA 630,865630.9k $161.8m $161.8m 0.43% Added +201.7k +201,691
25 PARK AVENUE SECURITIES LLC 1.05% of their portfolio NEW YORK, NY 523,868523.9k $134.3m $134.3m 1.05% Added +66.5k +66,465
26 PNC Financial Services Group, Inc. 0.08% of their portfolio Pittsburgh, PA 508,703508.7k $130.5m $130.5m 0.08% Added +6.2k +6,224
27 Cetera Investment Advisers 0.15% of their portfolio SCHAUMBURG, IL 487,762487.8k $125.1m $125.1m 0.15% Added +47.7k +47,682
28 Envestnet Portfolio Solutions, Inc. 0.44% of their portfolio BERWYN, PA 464,403464.4k $119.1m $119.1m 0.44% Reduced -10.5k -10,498
29 Savant Capital, LLC 0.71% of their portfolio ROCKFORD, IL 457,507457.5k $117.3m $117.3m 0.71% Reduced -24.9k -24,942
30 OSAIC HOLDINGS, INC. 0.15% of their portfolio SCOTTSDALE, AZ 439,225439.2k $110.3m $110.3m 0.15% Reduced -78.1k -78,059
31 Janney Montgomery Scott LLC 0.25% of their portfolio PHILADELPHIA, PA 417,834417.8k $107.2m $107.2m 0.25% Reduced -16.0k -16,037
32 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 416,439416.4k $106.8m $106.8m 0.02% Reduced -661.4k -661,407
33 AdvisorShares Investments LLC 16.93% of their portfolio BETHESDA, MD 404,210404.2k $103.7m $103.7m 16.93% Reduced -27.0k -27,028
34 COMMONWEALTH EQUITY SERVICES, LLC 0.12% of their portfolio WALTHAM, MA 360,382360.4k $92.4m $92.4m 0.12% Added +5.2k +5,201
35 Arizona PSPRS Trust 3.12% of their portfolio PHOENIX, AZ 360,077360.1k $90.7m $90.7m 3.12% Added +850 +850
36 High Probability Advisors, LLC 11.20% of their portfolio Pittsford, NY 318,438318.4k $81.7m $81.7m 11.20% Added +4.4k +4,422
37 Sanctuary Advisors, LLC 0.21% of their portfolio INDIANAPOLIS, IN 303,954304.0k $69.4m $69.4m 0.21% Added +161.2k +161,226
38 Foster Group, Inc. 2.42% of their portfolio WEST DES MOINES, IA 301,241301.2k $77.3m $77.3m 2.42% Added +2.2k +2,207
39 CITIGROUP INC 0.05% of their portfolio NEW YORK, NY 299,390299.4k $76.8m $76.8m 0.05% Reduced -157.0k -157,005
40 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.05% of their portfolio MILWAUKEE, WI 295,778295.8k $75.9m $75.9m 0.05% Added +48.4k +48,352
41 OneDigital Investment Advisors LLC 0.71% of their portfolio OVERLAND PARK, KS 270,886270.9k $69.5m $69.5m 0.71% Added +2.3k +2,349
42 Foundations Investment Advisors, LLC 0.96% of their portfolio PHOENIX, AZ 257,073257.1k $65.9m $65.9m 0.96% Reduced -76.7k -76,656
43 BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio PARIS, I0 256,260256.3k $65.7m $65.7m 0.05% Added +40.9k +40,891
44 STIFEL FINANCIAL CORP 0.06% of their portfolio ST. LOUIS, MO 246,235246.2k $63.1m $63.1m 0.06% Added +25.3k +25,269
45 Symmetry Partners, LLC 6.77% of their portfolio GLASTONBURY, CT 242,492242.5k $62.2m $62.2m 6.77% Added +21.6k +21,628
46 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 230,702230.7k $59.2m $59.2m 0.01% Added +11.5k +11,530
47 NewEdge Advisors, LLC 0.26% of their portfolio NEW ORLEANS, LA 220,151220.2k $56.5m $56.5m 0.26% Added +7.7k +7,720
48 Strategic Financial Services, Inc. 2.82% of their portfolio UTICA, NY 219,222219.2k $56.2m $56.2m 2.82% Reduced -135 -135
49 Cambridge Investment Research Advisors, Inc. 0.15% of their portfolio FAIRFIELD, IA 211,754211.8k $54.3m $54.3m 0.15% Added +34.6k +34,591
50 Armbruster Capital Management, Inc. 9.21% of their portfolio PITTSFORD, NY 211,106211.1k $54.1m $54.1m 9.21% Added +2.9k +2,890
51 KEYBANK NATIONAL ASSOCIATION/OH 0.18% of their portfolio BROOKLYN, OH 196,940196.9k $50.5m $50.5m 0.18% Reduced -4.1k -4,127
52 Kathmere Capital Management, LLC 3.11% of their portfolio WAYNE, PA 170,840170.8k $43.8m $43.8m 3.11% Reduced -5.0k -5,029
53 JB Capital LLC 1.85% of their portfolio WETHERSFIELD, CT 167,577167.6k $43.0m $43.0m 1.85% Added +9.6k +9,553
54 JONES FINANCIAL COMPANIES LLLP 0.03% of their portfolio DES PERES, MO 162,138162.1k $41.3m $41.3m 0.03% Added +24.5k +24,496
55 Merit Financial Group, LLC 0.38% of their portfolio ALPHARETTA, GA 160,608160.6k $41.2m $41.2m 0.38% Added +34.6k +34,632
56 Lido Advisors, LLC 0.16% of their portfolio Los Angeles, CA 153,621153.6k $39.4m $39.4m 0.16% Added +61.9k +61,915
57 Apella Capital, LLC 0.86% of their portfolio WEST HARTFORD, CT 152,590152.6k $38.6m $38.6m 0.86% Reduced -22.8k -22,833
58 New York Life Investment Management LLC 0.34% of their portfolio New York, NY 151,310151.3k $38.8m $38.8m 0.34% Added +35.9k +35,939
59 Strategic Investment Advisors / MI 0.68% of their portfolio FARMINGTON HILLS, MI 140,862140.9k $7.6m $7.6m 0.68% Added +103.2k +103,202
60 Mullooly Asset Management, Inc. 13.56% of their portfolio WALL TOWNSHIP, NJ 137,856137.9k $35.4m $35.4m 13.56% Added +1.6k +1,594
61 Integrated Wealth Concepts LLC 0.31% of their portfolio WALTHAM, MA 136,725136.7k $35.1m $35.1m 0.31% Added +758 +758
62 Acropolis Investment Management, LLC 1.64% of their portfolio ST. LOUIS, MO 134,659134.7k $32.4m $32.4m 1.64% Added +5.8k +5,813
63 1900 WEALTH MANAGEMENT LLC 2.34% of their portfolio SAN ANTONIO, TX 134,490134.5k $34.5m $34.5m 2.34% Reduced -888 -888
64 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.24% of their portfolio IRVING, TX 129,638129.6k $33.2m $33.2m 0.24% Added +288 +288
65 Stonehearth Capital Management, LLC 12.57% of their portfolio DANVERS, MA 126,654126.7k $32.5m $32.5m 12.57% Reduced -3.0k -3,004
66 Kestra Investment Management, LLC 0.87% of their portfolio AUSTIN, TX 126,135126.1k $32.3m $32.3m 0.87% Reduced -20.6k -20,602
67 TRUIST FINANCIAL CORP 0.04% of their portfolio CHARLOTTE, NC 124,440124.4k $31.9m $31.9m 0.04% Added +5.7k +5,676
68 CAPTRUST FINANCIAL ADVISORS 0.06% of their portfolio RALEIGH, NC 123,890123.9k $31.8m $31.8m 0.06% Added +22.7k +22,731
69 Sanchez Wealth Management Group 6.65% of their portfolio JACKSONVILLE, FL 116,745116.7k $29.9m $29.9m 6.65% Added +4.2k +4,198
70 OPPENHEIMER & CO INC 0.35% of their portfolio NEW YORK, NY 112,073112.1k $28.7m $28.7m 0.35% Added +9.4k +9,360
71 M&T Bank Corp 0.10% of their portfolio BUFFALO, NY 110,794110.8k $28.4m $28.4m 0.10% Added +20.2k +20,225
72 Sequoia Financial Advisors, LLC 0.17% of their portfolio Akron, OH 108,546108.5k $27.8m $27.8m 0.17% Added +1.8k +1,792
73 Baird Financial Group, Inc. 0.04% of their portfolio MILWAUKEE, WI 100,304100.3k $25.7m $25.7m 0.04% Reduced -1.4k -1,356
74 Kestra Advisory Services, LLC 0.12% of their portfolio AUSTIN, TX 99,80799.8k $25.6m $25.6m 0.12% Added +11.8k +11,796
75 Mariner, LLC 0.03% of their portfolio Overland Park, KS 99,74799.7k $25.6m $25.6m 0.03% Added +2.3k +2,337
76 Atria Investments, Inc 0.29% of their portfolio Charlotte, NC 98,33198.3k $25.2m $25.2m 0.29% Added +5.6k +5,573
77 Bell Investment Advisors, Inc 3.96% of their portfolio ORINDA, CA 94,43394.4k $24.2m $24.2m 3.96% Reduced -2.8k -2,822
78 Savvy Advisors, Inc. 1.11% of their portfolio NEW YORK, NY 94,04594.0k $24.1m $24.1m 1.11% Added +64.0k +64,004
79 COBBLESTONE CAPITAL ADVISORS LLC /NY/ 1.15% of their portfolio ROCHESTER, NY 93,50993.5k $24.0m $24.0m 1.15% Reduced -588 -588
80 Advocacy Wealth Management, LLC 1.04% of their portfolio ATLANTA, GA 93,32593.3k $23.9m $23.9m 1.04% Added +4.9k +4,909
81 AE Wealth Management LLC 0.15% of their portfolio TOPEKA, KS 91,59591.6k $23.5m $23.5m 0.15% Reduced -4.3k -4,281
82 Thrivent Financial for Lutherans 0.04% of their portfolio Minneapolis, MN 88,69188.7k $22.7m $22.7m 0.04% Added +85.0k +85,011
83 Provida Pension Fund Administrator 0.40% of their portfolio LAS CONDES, SANTIAGO, F3 88,65288.7k $22.7m $22.7m 0.40% Reduced -62.5k -62,535
84 Sensible Financial Planning & Management, LLC. 4.10% of their portfolio WALTHAM, MA 88,08888.1k $22.6m $22.6m 4.10% Reduced -3.7k -3,689
85 Invst, LLC 2.53% of their portfolio INDIANAPOLIS, IN 86,94386.9k $22.3m $22.3m 2.53% Added +5.2k +5,219
86 Qube Research & Technologies Ltd 0.03% of their portfolio LONDON, X0 85,50485.5k $21.9m $21.9m 0.03% Reduced -42.0k -41,957
87 Meredith Wealth Planning 6.94% of their portfolio MARYVILLE, IL 85,43485.4k $21.9m $21.9m 6.94% Reduced -1.7k -1,717
88 B&D White Capital Company, LLC 2.75% of their portfolio Lakeway, TX 83,78183.8k $21.5m $21.5m 2.75% New
89 Convergence Financial, LLC 3.14% of their portfolio COLUMBIA, MO 81,66081.7k $20.9m $20.9m 3.14% Added +8.5k +8,469
90 Glenview Trust Co 0.32% of their portfolio Louisville, KY 79,80979.8k $20.5m $20.5m 0.32% Reduced -2.3k -2,259
91 OPPENHEIMER ASSET MANAGEMENT INC. 0.22% of their portfolio NEW YORK, NY 77,02477.0k $19.8m $19.8m 0.22% Reduced -199 -199
92 US BANCORP \DE\ 0.02% of their portfolio MINNEAPOLIS, MN 74,63274.6k $19.1m $19.1m 0.02% Reduced -1.4k -1,383
93 Private Advisor Group, LLC 0.09% of their portfolio MORRISTOWN, NJ 74,38074.4k $19.1m $19.1m 0.09% Reduced -32.9k -32,865
94 Jump Financial, LLC 0.24% of their portfolio Chicago, IL 74,13274.1k $19.0m $19.0m 0.24% New
95 PRUDENT INVESTORS NETWORK, INC. 4.64% of their portfolio LAKE FOREST, CA 73,79873.8k $18.9m $18.9m 4.64% Added +968 +968
96 SAGESPRING WEALTH PARTNERS, LLC 0.36% of their portfolio FRANKLIN, TN 71,28171.3k $18.3m $18.3m 0.36% Reduced -311 -311
97 OXFORD FINANCIAL GROUP, LTD. LLC 1.02% of their portfolio INDIANAPOLIS, IN 70,54270.5k $18.1m $18.1m 1.02% Reduced -869 -869
98 Trinity Wealth Management, LLC 6.77% of their portfolio BERWYN, PA 70,39470.4k $18.1m $18.1m 6.77% Reduced -27.2k -27,166
99 Straight Path Wealth Management 4.99% of their portfolio Jenison, MI 69,77369.8k $17.9m $17.9m 4.99% Added +3.4k +3,425
100 CPC Advisors, LLC 1.86% of their portfolio Atlanta, GA 68,85968.9k $17.7m $17.7m 1.86% Added +1.5k +1,479